Case Interview Practice Session Introduction as alumni of TC and overview of professional background (Q&A at end of session) Led by: Lauren Card

What is a case interview? An interactive scenario-based problem-solving activity, usually in the areas of strategy, market entry, profitability, or human capital An open, two-way discussion that helps to assess how the candidate approaches complex business situations An integral part of the recruiting process, which allows companies to evaluate candidates’ ability to analyze and articulate their understanding of client situations and issues What skills are evaluated? Quantitative/analytical skills Problem-solving ability Communication skills Creativity/flexibility Ability to think quickly under pressure Listening skills Business acumen Interpersonal skills

What does the interview look like? Source: Duke-Fuqua 2009-2010 DMCC Case Book

What are they looking for? Poise / communication • Sit up straight • Keep eye contact • Maintain a professional presence • Adapt to cues • Speak up Creativity / enthusiasm • Have fun • Don‘t appear like this is the worst experience of your life • Show your creative side • Don‘t be a robot Structured thinking • Don‘t shy away from numbers • Have a structured approach to your problem solving Source: Case in Point (2011)

Response Approach Source: 2009 Wharton Consulting Club Casebook **estimated times

Recommendations DO DON’T Greet interviewers with enthusiasm and a firm handshake Listen carefully Take notes Be structured Be flexible Be forthcoming Ask for clarifying answers Watch for ‘cues’ Keep track of time Reach “closure” Most importantly - enjoy! DON’T Race through the case Jump to conclusions Force-fit frameworks Fear numbers and graphs Get lost in analysis Focus on finding one “right” solution Panic Evaluate your performance in the middle of the case Important: Summarize the question, verify the objectives, be coachable

Questions Q: How can I best prepare for a case interview? A: Practice, practice, practice. Practice as many case interviews as you can and practice with many different people. Do not stick to your comfort zone. Q: What should I do if I am stuck with a specific detail or not quite sure of an effective way to tackle a situation? A: Ask questions. Clarify with the interviewer whether you are headed in the right direction. Have a structured approach, but remain flexible and shift that approach based on the interviewer’s feedback. Q: Is it okay to tell an interviewer “I’m not sure”? Should I focus on the aspects I am familiar with and hope they overlook the areas I didn't address? A: Yes. It is okay to say you are “not sure.” While it is good to focus on your strengths, remember that the answer might be elsewhere. Try to address all the relevant portions of the case. Q: Is it acceptable to make assumptions while conducting the analysis? A: Yes, as long as the assumptions are logical, relevant and clearly stated to the interviewer.

Helpful Sources Case in Point Consulting Company Websites CGCC Strategy/Management Cases Victor Chen (www.caseinterview.com)

Case Practice 3 minutes to read case description 2 minutes for clarifying questions Note about nature of the Case: This is a Human Capital Case and thus contains an approach much different from the usual “Strategy” case. However the candidate should not abandon the use of a framework. Here the focus isn’t so much on the bottom line as it is on the approach needed to manage the proposed changes in the organization. The case should be carried out in a conversational format with hints and clues to push the candidate alongside the case prompt.

Case Description A major U.S. financial services company has just implemented a Client Relationship Management (CRM) system. The goal: To give leadership a real time view into the organization’s sales channel For years, sales teams have maintained client sales information in separate excel spreadsheets. This prevented leadership from having visibility and a holistic view of sales opportunities, which meant sending multiple requests to sales teams for the latest and greatest information By the end of the fiscal year, all sales teams are expected to migrate their sales data into this new system and use it to manage their sales information Guidance Who will be affected by this change? What are some ways that you can think of to best announce/communicate this change? Is it a single person’s role, or should multiple individuals of different capacities be involved? Do you think everyone will be happy with this change? How will you handle dissention? Analysis Definition of Stakeholders: Leadership, Sales teams, & the rest of the organization Find out how people in organization like to receive communications Identify a change champion (leads one-on-one sessions) Technical support/training: how to contact the help desk Create a central place for feedback/comments Create honest communications (share both the bad and the good) Generate excitement/ engagement through a fun and well- branded communications campaign (all communications/ marketing should use this brand/identity) CEO Webcast (announcing the change initiative) Prompt Part II Do you see any change issues? How would you address them Guidance Part II How do you think on-boarding will work? Will people automatically know how to use the system? How will we keep people using this new system? What is the benefit to them? (if candidate struggles, mention the word ‘incentivize’ or ‘benefit’) How do we know we made the right decision in making these changes? Analysis Part II Training (web based and classroom based) for sales team and technical support Design and implement incentives/ tie to Performance Management Create success metrics Prompt Part III How do you measure success? What do you do if leadership digs in their heels and resists the change? Now, let’s change things up. Say the system was implemented - without the help of change management - and it failed (i.e., the people have not adopted the new technology). The team brings you on to salvage the project. What would you do? Guidance Part III When/how will you set goals for the outcome of this project? How would you respond if senior management calls you into a meeting to tell you that they refuse to use this new system? Analysis Part III Set measurable goals at the onset of the project: ex. 75% usage by the end of the project, reduce number of manual excel reports by 50% within the first 3mo of the CRM launch Share with management the other projects that can now be tackled to improve company performance, now that less time is being spent on maintaining excel spreadsheets. Performance Evaluation – Ask candidates to synthesize case Expected: The candidate will recognize that this change affects employees at all levels of the organization and will plan the change accordingly. Good: The candidate will touch on the major points mentioned. Excellent: The candidate will acknowledge and preemptively address and lay out a contingency plan in the event that the CRM rollout does not go as planned.

Case Description (cont.) PROMPT: You are the change management lead for this project. How would you get everyone on the system? Who are the various stakeholders? How would you communicate to and engage these stakeholders?

Case Discussion Develop a plan Use a framework if applicable Include a hypothesis Discuss conclusions/recommendations/follow-up Individual review of case, then groups of 4 for discussion/sharing of ideas.

Q&A